Market Shows Resilience as Vacancies Decline, Foot Traffic Rebounds
Franklin Street’s Q2-21 report on the Jacksonville retail market takes an in-depth look at key indicators in the market, from leasing and investment sales activity to foot traffic levels and new developments.
The report also dives into important trends and challenges impacting the market, while offering exclusive insight on what’s ahead for Jacksonville retail.
- The Jacksonville retail market, consisting of Baker, Clay, Duval, Nassau and St. Johns counties, has seen strong signs of recovery, including a return to pre-pandemic vacancy rates and foot traffic levels in most retail categories.
- The market’s healthy fundamentals are supported by increases in retail foot traffic, steadily rising tourism from both in-state and out-of-state visitors and unemployment rates that have remained below the national average.
- With continuous increases in positive net absorption, as well as a major spike in investment activity, Jacksonville’s retail market is well-positioned for continued recovery and future growth.